Abcourt announces that a letter of intention has been signed with Richmont Mines Inc for the custom milling of the gold mineralization from the Elder mine
Mont-St-Hilaire, Quebec, Canada / TheNewswire / June 8 2015 - Mr. Renaud Hinse, President and Chief Executive Officer of Abcourt Mines Inc. (TSX-V: ABI, Berlin: AML-BE and Frankfurt Stock Exchanges: AML-FF) ("Abcourt"") is pleased to announce that a letter of intent has been signed with Richmont Mines Inc. for the custom milling of the gold mineralization extracted from the Elder mine at Richmont's Camflo Mill.
The letter of intent specifies that the custom milling contract will cover the six-month period from July to December 2015, and will include an amount 10,000 to 12,500 tonnes per month. The gold ingots produced will be shipped to the Royal Canadian Mint where they will be refined. The final agreement incorporating the terms of the letter of intent and any other needed terms or conditions will be signed as soon as possible.
Richmont Mines Inc. has been established in the north-western part of Quebec for more than 30 years. It has a solid financial base and an experienced and competent management team. Abcourt expects that the custom milling of the Elder Mine material at Richmont's Camflo Mill will generate good results.
About Abcourt Mines Inc.
Abcourt Mines Inc. is an exploration and development company with strategically located properties in northwestern Quebec, Canada. The Elder Mine with gold resources (2012), the Abcourt-Barvue Project with silver-zinc ore reserves (2007) and resources (2012) and the Aldermac property with historical copper-zinc resources are all former producers. The reported reserves and resources are considered as current mineral reserves and resources. Abcourt is now focused on bringing the Elder and Abcourt-Barvue projects back into production with Elder as the first priority. At the same time, the Company is working on other projects (Aldermac, Vezza, Jonpol and Vendome) to increase its mineral resources inventory. A resource calculation was completed in July, 2012, for the Elder Mine. A positive PEA report was prepared on Elder mine in the Fall of 2012 by Roche Limited, Consulting Group. A positive feasibility study was completed by GENIVAR in 2007 on the Abcourt-Barvue Project. In addition, a major part of the equipment needed to build the mill was purchased. To know more about Abcourt, please visit our web site at www.abcourt.com and SEDAR.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of Abcourt Mines Inc. (the "Company"), or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's amended and restated annual information form dated May 11, 2012 and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
This press release was prepared by Mr. Renaud Hinse, a qualified person, President of Abcourt Mines Inc.
For more information, please contact:
Renaud Hinse, President and CEO
T: 819 768-2857 450 446-5511
F: 819 768-5475 450 446-3550
Email : rhinse@abcourt.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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